Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) reported its second-quarter 2026 results, highlighting continued uranium production growth and significant progress in building an integrated rare earth platform. The company announced planned acquisitions of VAC and Australian Strategic Materials, began construction of a commercial-scale heavy rare earth processing plant at its White Mesa Mill in Utah, and continued advancing the Donald Project joint venture in Australia.
Financially, Energy Fuels reported revenue of $25.1 million and a net loss of $33.4 million, largely due to acquisition-related costs and growth investments. The company ended the quarter with nearly $1 billion in working capital, providing a strong foundation for its expansion initiatives.
During the quarter, Energy Fuels mined 315,000 pounds of contained uranium oxide and produced 865,000 pounds of finished uranium oxide, reaching its full-year production guidance in the first half of 2026. The company maintained weighted average production costs of approximately $23 per pound at its Pinyon Plain operation, demonstrating operational efficiency.
Management reaffirmed 2026 uranium production guidance and emphasized that the company’s expanding mine-to-magnet strategy positions it to supply critical materials spanning mining, rare earth processing, metallization, alloy production, and permanent magnets for automotive, robotics, data center, and defense applications. This strategic focus aligns with growing demand for rare earth elements and uranium in clean energy and advanced technologies.
The announcement underscores Energy Fuels' transformation into a leading critical materials company, leveraging its unique position as the owner of the only fully licensed conventional uranium mill in the U.S. The White Mesa Mill is central to its rare earth processing ambitions, enabling the production of separated rare earth oxides and planned magnet manufacturing.
For more details, view the full press release at https://ibn.fm/CHX32.
